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obama said tax rates must rise on the wealthiest americans as part of any deal to avoid the fiscal cliff. this morning r the president met with a bipartisan group of governors at the white house. jerry brown was not among them. the group did not endorse any specific proposal on avoiding the sharp tax and spending cuts that could take effect in january. president obama says it's possible that the tax rates could later be lowered as part of a comprehensive tax overhaul. >>> police responding to an early-morning burglary in san jose are surprised at what they found. we'll have exclusive video of the discovery. >>> rosemary's back in about nine minutes to tell you more about the new storm rolling in and when rain will increase in your neighborhood. >>> it's a first of its kind set up in the bay area. ahead with a new solar facility dedicated an hour ago is getting a lot of attention. on your prepaid card? introducing chase liquid. the reloadable card with no fee reloads and withdrawals at chase atms. all for one flat monthly fee so there's zero confusion. get rid of prepaid problems. get cha
taxing on the rich. obama wants to raise taxes on the wealthy. obama wants to eliminate deductions and close loopholes plus cut spending for entitlement programs. the president has said there can't be tax cuts for the rich at the expense of the domestic program which is frustrating for some republicans. >> this president, i think the president with president obama he's a small minded president in big times. he is talking about 35 verses 39.6 for people who make over a million dollars. that doesn't get us out of debt. >> both sides will be taking their plan to the public this week they will meet with governors for state business he's meeting with the governors today. john boehner will be with governors plus conduct rallies with small business owners. we don't know if these two sides are going to reach an agreement any time soon and the fiscal cliff is past approaching. >> thank you very much. we are going to keep with the fiscal cliff and take a look at who is talking. charles krauthammer weighing in on the negotiations. the approach on the president and democrats didn't about the e
on the top 2%. there's no other way to do it. >> reporter: president obama says his plan will raise taxes on the rich bringing in 1.6 trillion. republicans want to close tax loopholes and eliminate deductions to raise $800 billion in new revenue. >> the president has a huge responsibility to work together with congress and find a solution to avert the "fiscal cliff." >> reporter: and they say it's now up to the president to find a plan that can pass both chambers of congress. susan mcginnis, cbs news, washington. >>> time now 4:40. santa comes early for some facing foreclosure. the promise being made to certain people struggling to keep their homes. >> plus the white house's worst fears. what the syrian government may try to do to its people. >> but a beer run gets ugly as fist flies. the suspects and the struggle coming up after the break. clerk got into a fist fightr beer. surveillance video shows a man apparently steag two cases of beer from the s statio >>> a south carolina convenience story lines clerk got into fistfight over a case of beer. a man is shown stealing two cases of beer
spending cuts but no tax rate increases. here is a picture of president barack obama answering questions on twitter about the fiscal cliff. he is promoting a reference to the estimated tax increase and middle income families would see if rates are not extended, the latest would extend tax cuts for everyone including americans and who the president wants to exclude. the white house says the proposal is too short on specifics. >> we can't guess what they are, they need to tell us and they look forward to the time when they are specific with the ways we have dealt with it. >> they don't like what republicans want to do to social security and more on that during my next update. reporting live, allison burns, ktvu channel 2 morning news. >>> 5:14 in florida, they have released a photo of george zimmerman, showing george zimmerman with a swollen nose and blood did i face. they responded and said it adds nothing new to the case. the volunteer watch man is charged with second-degree murder and his trial is due to begin next june. >>> contra costa police officer was taken to the hospital after an
and the democrats have been the fact that obama wants to let the bush tax cuts expire for the wealthy and the in terms of spending cuts, the production republicans have just as of yesterday did a counter offer but nothing specific. there wasn't nothing to talk about in terms of cuts. >> bill: lack of specificity on what should be cut has drained the discussion into a simple let's raise taxes on the wealthy. >> yeah. there are no cuts to cover. >> bill: i don't know why kristen diane sawyer wants to raise her own taxes, do you know? >> i think there is truth in what kirsten was saying as far as it's much simpler to continue this same debate we had through the entire campaign to move on to that you subject. >> if you say you wanted to cut the department of energy or the department of education people's eyes glaze over. but it does seem to me, kristen, that there is among the network newscast there is kind of like, yeah, let's raise the taxes on the wealthy, that would be a good thing. that does seem to me that's there. >> unfortunate narrative that's been peddled it's not true but it's
obama and the republicans will reach a budget deal before automatic tax increases are triggered? yes or no and we will give you the results of that poll on monday. directly ahead, network news operations firmly behind tax increases or so it seems. but dennis miller none to happy about his portfolio being drained off by the feds and the state of california. those reports after these messages. t wants that pink cast. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. i wish my patits could see what i see. ♪ that over time, having high cholesterol and any of thesrisk factors can put them at increased risk for plaque buildup in their arteries. so it's even more important to lower their cholesterol, and that's why, when diet and exercise alone aren't enough, i prescrib
. president obama wants to end tax cuts for americans making more than 250-thousand dollars a year. the bottom line -- lawmakers made no progress today on an agreement. >> mitt romney has a job again.. he's returning to the board of directors at marriott international hotel.... he's been on the board twice before - but left to run for political office. romney has kept a low profile since the election - spending his time with his family at their california home. the romney and marriott families are close -- in fact - willard mitt romney was named after the hotel's founder -- j. willard marriott... >> heavy fighting between rebel and government forces in syria. now there is concern that syria could plan on using chemical weapons against the rebels. obama is warmin mornin-that it should not happening. >> the use of chemical weapons. is and is totally unacceptable. and if you make the tragic mistake of using these weapons it there will be consequences and you will be held accountable >> the united nations is withdrawing its international staff from syria because of the obvious security problems.
associated press poll shows there is clear support for mr. obama's plan in the poll 48% want the tax cuts on incomes exceeding quarter million dollars a year to expire in january while continuing them for everyone else. 32% want to renew the tax cuts for everyone. findings seem to strengthen the president's hand in his negotiations >> recall alert for parents from 7 on your side. government is taking action against makers of nap nanny, a portable baby recliner, after five infanned -- five infant deaths. the nap nanny poses risk of injury and death to infants. the commission says it is a dangerous product with a faulty sign. coming up on "good morning america" at 7:00, why the makers are refusing to pull its product. >>> this afternoon cal will hold a news conference to introduce the bear's new coach, sonny dykes has hired yesterday to rebill the program he leaves louisiana tech after three seasons. this year -- his bulldogs led the nation in scoring. he runs spread offense expected to bring exciting football to berkeley he has previous experience in pac 12 as assistant at arizona. >>> sti
barack obama suppresses his case today for a tax hike to help reduce the deficit. we are not insisting on rates just out of spite or any kind of partisan victory but rather because we need to raise a certain amount of revenue. >> and he made that pitch to several wealthy ceos he wants to raise taxes on the top 2 percent of income earners and he believes this will help raise the government's 16 trillion dollar debt coupled with spending cuts but the republican controlled house says the president has not responded to their latest proposal. >> i think we made a good-faith offer to avert the fiscal crisis and that offer included significant spending cuts and reforms and it included additional revenue and frankly it was the balanced approach mr. president has been asking for. erick kanter announced today there will be no adjournment into a credible solution to the fiscal cliff is found. >> house lawmakers proposed a bill today they claim will bring the costs under control and provide a safe retirement, it creates two groups of public employees those hired before 2011 and those hired sin
to 2010 when obama went along with extending the bush tax cuts for two more years. he was adamant back then, this is it and i'm doing it for two more years and i'm going to run for re-election and make them go away for rich americans. that's not acceptable to the white house, $800 billion from so-called tax reform. >> well, steve, i mean, you put it sole well i don't know how to improve on that. that's my first reaction, is that the absence of any l giving any ground on the rates mean we haven't moved that far here. i think that that's the key sticking point here. you know, as a matter of -- a lot of what's happening here is a duel in public opinion and the media, who looks like they're reaching out and who gets blamed if things get ugly. i think the republicans are trying to put a veneer of specificity to look like they're -- i think obama did a good job in the last several days saying republicans rntd putting anything the on the table. they're trying to check that box, but the absence of any give on the rates just doesn't really move us that much closer. i also wonder on that $800 bi
. >> reporter: president obama said that he supports keeping the bush era tax cuts for the middle class in place but ending them on incomes over $250,000 if there is no deal by new year's, everyone pays more. >> if this family has a couple of thousand left to spend, that translates into $200 billion of what consumer spending next year and that is bad for businesses, large and small. >> reporter: they won't support tax hikes but will support raising revenues by limiting tax deductions, closing loopholes and cutting spending. >> i think it's safe to say at that point that the president is not interested in a balanced agreement. he's not particularly interested in avoiding the fiscal cliff and he's not interested at all in cutsing any spending. >> reporter: democrats say with so much at stake from defense jobs to unemployment benefits and higher taxes on all households, republicans are simply stalling what needs to be done. >> it's apparent how this will end. the only question is when will it end? you know, it's how long will speaker boehner make middle class families wait for relief. >> reporter:
republicans sent president obama a new offer to avoid the fiscal cliff, a counter offer to president obama's plan, proposing raising $800 billion from tax reform, not higher tax rates. but the white house immediately slammed the offer and said it won't even consider it. tonight, speaker boehner's response to the white house response, saying it's up to the president to come up with a plan. allen west is here. good evening. >> good evening. >> your thoughts, apparently the white house is unimpressed with the proposal by the speakert and white house republicans? >> i think the white house needs to do case studies, calvin coolidge and president john f. kennedy, when you look at what they did with lowering tax rates and increase revenues. calvin coolidge went from 73% to 24%. john f. kennedy from 91% to 71%. they increased revenues. we are not talking about what the president is looking at with his wealth redistribution, we are talking about wealth expansion, economic growth and sound policies to do that. if you want to continue to believe that $250,000 makes someone rich, you are going to crus
that president obama is getting a little cocky. >> working to get public support for the tax and spending proposal. president obama answered questions on twitter. how will you stop us from going over the fiscal cliff and will it involve significant deficit reduction. the president said i thought twitter was supposed to be fun. where are all of the crazy video. twitter boring. >> gretchen: it is an interesting concept instead of spending time twittering why not go and lead the discussion between the parties. >> steve: or the president went golfing three or four times . it would be great if he went golfing with john boehner. >> gretchen: as hong as they don't ask. here are the headlines. a scare for franky muniz who rose to fame for malkare olm in the middle. >> it is the video . desense -- desensitized to violence. how many have you had. >> gretchen: the 26 year old recovering after suffering from a min i stroke. they are awaiting results. they noticed that nuniz had trouble understanding word and speaking. >> brian: he has to take better care of himself. >> steve: meanwhile, a mother coul
with the bill. press secretary jay carney said mr. obama is determined to phase out the bush administration tax cuts for families making more than $250,000 a year. >> he will not sign a bill that extends those tax rates for the top 2%. we can't afford it. it is not a wise economic policy or wise fiscal policy. and it would defeat the principle of balance that he has embraced. >> so with less than a month to go before the deadline, we've now had an offer and a counteroffer, but arguably, no real attempt at compromise. democrats say republicans haven't detailed how they would increase tax revenue and they haven't offered enough of it and republicans say democrats haven't agreed to serious entitlement program cuts. steve, gretchen, brian? >> steve: thank you very much, live from the north lawn. ten minutes before the top of the hour. you probably remember the $6 million man. >> wed into to make the world's first bionic man better than he was before. better, stronger, faster. >> steve: our next guest says he can make this a reality, merging man with machine. it does not involve lee majors. >> gretc
to your calls about the fiscal cliff and whether -- we told president obama is still the best way to go. remember there's some risk here. the risk is if we do go over the cliff, allow taxes -- that means taxes on every american will go up. every taxpayer will go up first of the year. not just on the top 2%. and somebody's going to get the blame for that. we're counting on the republicans -- americans knowing that republicans are to blame. is that the case? do you agree. 1-866-55-press. is that what the president ought to do. 1-866-55-press. one thing you ought to -- before we get back to your calls urge you to consider, particularly if you are one of those families struggling to make ends meet at the end of every month and who's not, take a look at incomeathome.com. no obligation. just check it out. they're america's leading work from home business and they're offering you an opportunity you can do. in matter your age education or experience, you can literally earn money on your own laptop from your own kitchen ta
the rates on the top 2% go up. we're not going to be able to get a deal without it. >> president obama draws a hard line on taxes. >> republican and the white house both have offers on the table on how to resolve the nation's fiscal cliff crisis. >> we wasted an enormous amount of time here, sparring back and forth in public. it's a good time to get serious. >> let's just go over the [ bleep ] cliff. because you know why? at least for a few seconds, it will feel like we're flying. >>> this morning, police are questioning a man in that deadly subway push. they say he has implicated himself in the crime. >>> duchess of cambridge is continuing to feel better. >> australian radio station was able to pose as the queen, get information on the phone about kate's health. >> want to see how her -- >> she is sleeping at the moment and she has had an uneventful night. >> mohamed morsi under siege after 100,000 protests in the streets. >>> l.a.'s mayor has announced an end to an eight-day strike at the largest port complex. >>> best man's friend is learning a new trick. how to drive a car. get off the r
and republicans don't reach a budget agreement by year's end, across-the-board tax hikes and budget cuts will kick in automatically. house speaker john boehnered off a republican proposal this week but president obama and other democrats have dismissed it because it includes no tax increase for the wealthiest of americans. >> 60% of americans pay slightly more. >> there's only one person out of 307 million americans who can sign something in law, the president. >> boehner is set to meet with small business owners while the president speaks at a conference of corporate ceos. >>> bob dole made an appearance on capitol hill yesterday in a wheelchair frail but still flexing his political might. he could not convince enough republicans to support a disabled rights treaty. the united nations treaty would ban discrimination against people with disabilities. it fell five votes short of getting the needed two-thirds approval in the senate. >>> the world's oldest woman has died at the age of 116. beth cooper is only one of eight people recognized by the begin he was book of world records to have lived that
the so-called fiscal cliff. this morning president obama will host some of the nation's governors to spread his message. the president wants to raise 1.6 trillion in revenue by increasing taxes on the top 2% of income earners. republicans counted with a 2.2 trillion dollar deficit reduction plan, 800 billion dollars in revenue, but didn't call for raising tax rates on wealthy. the proposal was quickly ejected with the white house. >>> new -- rejected by the white house. >>> new poll shows -- gallup asked americans to rate honesty and ethical standards car salesmen got lowest marks 8% marked them high or very high. congress is just above them, only 10% scored in the top two categories to be honest. journalists 24%. top of the rankings, nurses, 84% of americans gave them the highest marks and of course meteorologists right behind that >> i was going to say even though it is not darn -- not a 100% science -- [ talking over each other ] >> 100% science that has accuracy, a little less -- okay stop digging. [ talking over each other ] >> they didn't rate meteorologists i wonder who is
a two-thirds majority in last month's election. the measure called for a parcel tax to help fund fire services. >>> president obama is closely monitoring a week-long strike at two southern california ports. 800 members of the clerical union who work at the ports of los angeles and long beach had been working without a contract for more than two years. the clerks don't handle cargo but dock workers are refusing to cross picket lines forcing a shutdown of most terminals. experts estimate the strike is costing the u.s. up to $1 billion a day. and it could delay shipments of holiday gift merchandise. >>> there's a tentative contract agreement between port of oakland and union workers. two weeks ago, more than 500 members of seiu local 1021 went on strike. they had been at the bargaining table for 16 months. details of the agreement will be released when the contract is voted on tomorrow. >>> president obama will host a group of governors today to talk about the "fiscal cliff" after he rejected a counterproposal from congressional republicans. that plan promised to trim $2.2 trillion over
thus far, they couldn't pass either house of the congress. >> president barack obama says he will not sign a bill without a tax increase on incomes over $250,000. he met with a roomful of ceos in washington today. >> i know that many of you have come down here to try to see is there a way that we can break through the logjam and go ahead and get things done? and i'm here to tell you that nobody wants to get this done more than me. >> and yet house speaker john boehner says the president has not responded to republicans' latest proposal. >> that offer included significant spending cuts and reforms and it include additional revenue. frankly, it was the balanced approach that the president's has been asking for. >> perhaps the boehner/obama phone call late today has moved things along. >> there's lots of activity looking at opposites. what we don't have right now be on -- options. what we don't have right now obviously is a meeting of the minds. this will require a difficult compromise on all sides to get the job done. >> speaker boehner sent house members home today for the re
. >>> president obama's expected to travel to detroit on monday to push his proposal for raising tax rates on the wealthiest americans. the trip is part of his effort to get republicans to drop their opposition to increasing rates on the top 2%. meanwhile, house speaker john boehner challenged the president today to come up with a plan that can pass both houses of congress. >>> a new york man accused of shoving a stranger in front of a subway train is now charged with murder. the case has horrified people all over the world. >> the man who snapped a photo of the victim seconds before he was killed is defending himself. nbc's chris clackum explains why the photographer says he couldn't help the victim. >> reporter: the man new york city police took into custody tuesday made his first court appearance wednesday. 30-year-old davis is charged with second-degree murder. and he's believed to be the man on the right arguing with another man before pushing him into the path of an oncoming subway train monday. >> it was horrifying. it was terrible. >> reporter: but there's also outrage over the "ne
is trying to avoid plunging of the fiscal cliff. he has made clear that the obama administration is saying that the first order of business has to be to extend tax breaks for middle-class families and raise tax rates for the top 2% of income earners. talks over how to rein in entitlement spending should be held sometime next year. >> the president is asking for $1.6 trillion of new revenue over 10 years. twice as much as he has been asking for the public. his stimulus spending exceeded the amount of new cuts that he was willing to consider. it was not a serious offer. reporter: enter a new player in the talks, stephanie cutter. you remember her? she was the deputy campaign manager for the obama-biden ticket suggested that mitt romney might have committed a felony on his tax returns. sunday night, she e-mailed them to reach a fiscal deal. republicans have balked at raising those tax rates. they are identified by marcus at countries job creators. >> for the first time in two decades, they are there will tell revenues go up as part is the plan. but they have to tell us what they're willing to
on the prank call to the hospital ward. >>> we also have the latest on the showdown in d.c. on our taxes and that fast-approaching fiscal cliff. president obama has rejected the latest republican offer. he's taking a very hard line in the talks. >>> there's growing outage here in new york city over a front-page photo from "the new york post" yesterday. this man has just fallen down on the tracks. is just seconds away from a subway train hitting and killing him. many people upset why the photographer was taking the picture and not helping the man. this morning, he's talking out, justifying why he took the photo. and why so many other folks were running away. there's nobody there trying to help him off the tracks. >> he says he was trying to help. we're going to get into that. >>> also, you guys over there took advantage of the spring weather yesterday. >> yes, we did. we needed a walk. but more importantly, we needed to see our old pal, robin. we got to walk through the riverside park, as the sun was setting on a beautiful day in manhattan. it's always the case. she's always the -- >> she
coming up in the show. >>> tonight, what a mess. just hours ago house republicans sent president obama a new offer to avoid the fiscal cliff. it is a counter offer to president obama's plan. g.o.p. lawmakers proposed raising $800 billion in revenue from tax reform, not higher tax rates, but the white house immediately slammed the offer and said it won't even consider it, and tonight speaker boehner responds to the white house response saying it's now up to the president to come up with a plan. congressman allen west joins us. good evening. >> how are you doing? >> greta: very well. the white house is unimpressed by the proposal from the speaker and the white house republicans. >> the white house needs to go back and do case studies whe. you look at presidents cool imagidgeand kennedy, they went % down to 24%. kennedy went from 91% down to 71% and they increased revenue. what we're talking about is not what the president of the united states is looking at with wealth redistribution. we're talking about wealth expansion and economic growth and sound economic policies to do that. if you w
an extension of the bush era tax cuts for the top 2%. full stop. >> bill: full stop. >> this is what i don't get about this. this is not some new idea. this is not something that obama is you know, pulling out of the clear blue sky. it is something he ran on. this is what the election was about. >> bill: and the people voting. >> overwhelmingly. >> bill: we have to go back to the beginning. these tax cuts were enacted by george w. bush in 2001. still a bad idea then, i believe. at any rate, we had a surplus. it was sold to the american people because we have a surplus, we ought to give money back. we'll have the tax cuts across the board which benefitted mostly the wealthiest of americans. we knew that at the time. they were adopted as a temporary measure. what part of temporary doesn't john boehner understand? what part of temporary don't these republicans understand, right? i mean what is it about suddenly suddenly, it's become gospel. it is sacrosanct that you can never raise tax on the richest of american
avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll finds 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> now, if the nation goes over the cliff at the end of the year, it's going to affect everyone, including the unemployed, as abc's jonathan karl reports. >> reporter: melinda vega has been put on notice. if congress and the president don't get their act together, her unemployment checks will stop immediately at the end of the year. >> we're dependent on that money to pay our bills. >> reporter: she's been without a job for a year. her $450 a week unemployment check her life line. >> we won't be able to pay some of our bills and, i mean, you know, that's for christmas and things of that nature, probably off the table. >> reporter: she is not alone. without a deal, unemployment compensation will end for more than 2 million people out of work more than 26 weeks.
to d.c., on the fiscal cliff, 26 days to go before the deadline. president obama was back at it campaign-style. went to the home of one middle class family in virginia, saying if the middle class tax cuts expire when the deadline hits it will cost the family an equivalent of a month's rent. meanwhile, john boehner started the talks after a standoff that lasted almost a week. then there was the surprise that rocked the capital today. south carolina conservative, jim demint, a hero to many, is retiring next month. nbc's david gregory, the moderator of "meet the press," has more on the surprise announcement. >> reporter: about four years early, a lot of people thought it would happen by 2017, but not at this point. in his term, demint was somebody who turbo-charged the tea party movement. he told me he would like to see the party really adopt more of these tea party ideas. that really didn't happen. there were more internal fights. he did have success in fielding candidates and also failed. he said they didn't do enough to establish what the party was for. he is going to try
finds himself defending his own plans for members of his own party. in northwest d.c., president obama is on the hard sell trying to convince a group of business executives to support raising taxes on the wealthy. >> let's allow higher rates to go up the top 2%, and that includes all of you, yes? >> reporter: saying a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the plans the white house has talked about us this far, they could not pass either house. >> reporter: a "washington post" poll finds 53% would blame republicans if the country went over the fiscal cliff while only 27% would blame the president. >> we need new thinking and renewed efforts from all americans. >> reporter: republicans and democrats are voicing support for extending middle class tax cuts until a larger deal is found. >> which i
in savings when it comes to tax revenue. but much of that came from raising tax rates for the wealthiest americans, which of course is what president obama campaigned on. so those are the big differences right now. but this certainly is important, wolf, because republicans were saying that they're not even sure that this ball was in their court. clearly they realized it was. so the talks -- there is stalemate no more, put it that way. >> on this key issue of marginal tax rates for the wealthy, the republican offer is keep the tax rates exactly as they are right now, 35% for that 2% wealthiest families making more than $250,000. the obama proposal is raise that rate to 39.6% where it was during the clinton administration. what else is in this new gop proposal? >> reporter: let's show you some of the savings when it comes to government spending. first of all, they put about $600 billion in what the republicans are calling health savings. we understand -- we don't have details. we understand much of that comes from medicare, things that we've heard from republicans over and over like raisin
laughed out loud thursday when he saw president obama's latest plan to avoid a middle-class tax increase. republicans are demanding more spending cuts. >>> and just as millions of americans shop online, rely on their gifts to be shipped by the holidays, the biggest seaports in the country are at a virtual standstill. union workers at the los angeles and long beach terminals are on strike. protesting outsourcing of jobs. 40% of all u.s. imports come through those terminals. negotiations are set to resume today. >>> very unusual scene just south of there, in san diego. an out-of-control truck slammed into a fire hydrant, sending water shooting cinematically 30 feet into the air. like a geyser. the truck actually plowed into a bar, leaving a gaping 11-foot hole in the wall. thankfully, no one was hurt. >>> now, here's diane sawyer, with a preview of tonight's "world news." diane? >> josh, great to talk to you on this friday. happy weekend to everyone on "gma." and coming up on "world news," please meet this young woman. i think you'll never forget her. an amazing story that teaches every on
demanding higher tax rates for the top two tax brackets and republicans refusing. after refusing the proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction mostly through spending cuts, and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> thank you. >> reporter: -- a senior white house official assailed it as a step backwards saying if republicans do not agree to some higher rates for wealthier taxpayers, the nation will go over the cliff and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck, so the lack of progress has not yet resulted in a market plunge, but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. and, diane, the official deadline for the fiscal cliff is december 31st at midnight when the ball drops in times square, but there's actually another deadline. the house of representatives is scheduled to go on wi
's right. house republicans say there will be no deal if tax ritz go up and the obama administration says it's ready to go thelma and louise style over the cliff on january 1. if that's the case, wendell goler live at the white house with what we know is going on behind the scenes. anything happening? >> steve, the president and house speaker john boehner talked on the phone yesterday, but they agreed not to characterize their conversation. so it's unclear how much progress they made. from the outside, it does seem they've moved a bit closer with boehner now agreeing to raise tax collection from the wealthy, though not by raising tax rates. >> we've got to cut spending and i believe to put revenues on the table. the revenues we're putting on the table will come from, guess who, the rich! there are ways to limit deductions, close loopholes, and have the same people pay more of their money to the federal government without raising tax rates which we believe will harm our economy. >> the president lobbied big business leaders yesterday with an appearance at the business round table. his aide
obama and house speaker john boehner. both are still sticking to their separate plans. the president's plan raises taxes on the top 2% to raise 1.6 trillion in revenue, while the gop wants to close tax loopholes to raise half as much. >> we can probably solve this in about a week. it's not that tough. but we need that conceptual breakthrough that says we need to do a balanced plan. >> i'll be available at any moment to sit down with the president to get serious about solving this problem. >> the white house says they are also concerned that republicans may use the debt ceiling, which will need to be raised early next year to get their way on tax and spending cuts. the pentagon is already planning major cuts in case there is no deal. the preliminary plan is to cut 500 billion dollars in jobs and programs. the pentagon's spokesman says those cuts could force the defense department to abandon its new military strategy. it's also likely to affect spending on weapons and technology programs as well as how the military provides for troops and their families. >>> two australian radio hosts
from the irs heading your way all thanks to obama care. here i-94 to break them down for us is diane macedo from the fox business network. >> that's right. the irs is releasing the rules on how to implement the new taxes that will take effect in 2013 to help pay for the affordable care act. one of the main runs is 3.8 percent sir tax on the investment income. the first tax ever to be applied to capital gains and dividend income. it is a broad range of investment securities and those making thmore than 200,000 a ye and married couples making more than 250,000. they are set to pay a .9 percent healthcare tax on their wages. together the two taxes are supposed to raise 318 billion over ten years. over those years more and more people will be taking them because the income level triggered the taxes doesn't rise with inflation. any one planning to sell a house make more than 500,000 and those gains will also be taxed. they will release a new form for taxpayers to fill out. 1230 returns related to all of the new taxes. all of the rules make it harder for individuals to comply with the regu
is right or wrong, obama has just won the election on that basic pledge to raise taxes. >> wrong, wrong, wrong! you know what, that makes no sense. how many people do you know that said i'm going to vote for the president to have more debt, and in an economy that can't grow it's way out of the issues? we currently only take in about 15.5% revenues. we need to get to 2021. >> i understand that. >> it's not a tax problem, it's a growth problem. and he has no growth plan. so then they blame others, because they don't have a plan. >> but he was able to get through the election doing precisely that. >> got through the election on social issues. on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, let's take jobless claims. >> i get it. >> over the last three days, jobless claims to sustain that renewa
dig in. the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times square. the deadline is before that, a week from friday when the house of representatives is schedul
and democrats in congress to hold tax cuts hostage because they don't want tax rates to go up on upper income folks. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue. half from higher rates in the wealthy. cuts in medicare and $50 billion in new infrastructure spending. when tim geithner laid out the plan for mitch mcconnell, aides on both sides said mcconnell burst out in laughing. house republicans offered a somber assessment. >> this is not a game. >> it was not a serious proposal. and right now, we're almost nowhere. >> reporter: lester, there is the inside game in washington and the outside game of public pressure that the president is trying to apply. he continues both of those this week. he meets with governors at the white house and more business ceos trying to get congress to move the votes in the house of representatives and get something done before january 1st. lester. >> mike, thanks so much. >>> still to come, charges dismissed against the u.s. open tennis ref who is accused of killing her husband. why the court decided to drop the case. >>> and discoun
before everyone's taxes go up and programs get cut. jon karl is following it all. a small breakthrough yesterday, president obama and house speaker john boehner got on the phone. >> reporter: that may not sound like much, george. but it's the first time the two men have spoken in a week. and what may be the most significant sign of progress, neither side talked about what was said on the call, an indication they may be serious about negotiating in private. >> we're starting to see some republicans concede that tax rates on the wealthy, at least, are going to have to go up. the president has another rock-hard bottom line. that's an increase in the u.s. debt limit, as well. >> reporter: that's right. republicans even top republicans, say the tax rates are going to almost certainly go up. but on this question of the debt ceiling, the government reaches the limit of how much money it can borrow in february. republicans say they will exact a price for that. they want spending cuts, if they can't get exchange for the tax increases. they will raise the debt ceiling. >> the president saying he
that forecast, lawrence. >>> a positive sign in the "fiscal cliff" negotiations. president obama and house speaker john boehner have spoken on the phone. the president also met yesterday with ceos of some of the nation's largest companies hoping to convince them of the need of higher tax rates on upper income americans. >> we are not insisting on higher rates out of spite or bickering but, rather, because we need to raise a certain amount of money. >> house majority leader eric cantor echoed of thoughts of his fellow republicans saying more needs to be done about spending. >>> the colorado movie theater where a gunman opened fire during the latest batman movie will finally reopen next month. aurora's mayor says the cineplex will open to the public on january 18. movie theater plans to run free movies for the first couple of days. you may recall 12 people were killed, 58 others injured, when holmes allegedly james holmes opened fire allegedly in july. >>> same-sex marriage is legal in washington signed into law last night by the governor. dozens of people got marriage licenses at the courth
lower. but the plan would keep all bush-era tax cuts in place, including those for the wealthy. the president says that is a deal-breaker. >>> and the editor in chief at "vogue" magazine could become a top debit. bloomberg reporting that president obama may nominate anna wintour, as the next ambassador to either britain or france. she was among the president's top campaign fund-raisers. >>> and this morning, a powerful teachers union is trying to raise the bar for teachers, calling for a tough, certification test, not unlike the bar exam for lawyers. the federation of teachers want to maintain a 3.0 grade point average and have ten hours of field experience. sound like good ideas. >>> the flu season has arrived already. the earliest in nearly a decade. officials are warning the primary strain making the rounds right now is more severe than others, especially for the elderly. >>> finally, a reminder. never a good idea to show off. a man who writes for a motorcycle magazine in france, test driving a snazzy new yamaha, along the waterfront. we all know -- oh. >> what? >> how did i
reduction over the next decade. that includes $1.2 trillion in spending cuts and $800 billion in new tax revenue, but here's the key. no rate increases in the top 2% of taxpayers. that's non-negotiable for president obama. >> we're not going to be able to got a deal without it. >> reporter: the white house says the republicans' math just doesn't add up. >> it's magic beans and fairy dust. >> reporter: negotiations have reached a stalemate. >> there's nothing going on privately that is not going on publicly. >> reporter: there is no plan at this time for congressional leaders to meet with the president at the white house, and it doesn't sound like he's sending out invitations any time soon. >> i don't think that the issue right now has to do with sitting in a room. >> reporter: earlier, the president met with the bipartisan group of governors. >> we understand this will be a shared sacrifice, you have to look at spending cuts. states are willing to do more with less. >> the governors didn't endorse a specific proposal, not the white house version or the house republican version, but they
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